Yolana Posta and Dana Lautenschleger

Spain Libya Mixed Capitalist/Mark et Economy -Government supplies supports banks and various institutions, only when they’re in need of bail outs. They also support unemployment benefits, and bank loans. The rest of the economy is separate from the government(very similar to U.S) Socialist/Comm and Economy -The economy is all run on government, but is slowly making progress in adding market-based changes. More and more privatization of companies are occurring leading to a more market based economy.

Spain Libya What to produce(who decides that?): Individuals Government decision, but slowly adding individual decisions. For whom to produce(who decides that?): Individuals Government decision, but slowly adding individual decisions. How to produce it(who decides that?): Individuals Government decision, but slowly adding individual decisions.

Spain Libya On the most western part of Europe and is surrounded by the Mediterranean Sea, and the north Atlantic ocean, which provides good water routes for trading. Major Industries: Textiles & Appeal, Footwear, Food and Beverages, Metals, Chemicals, Shipbuilding, Automobiles, Machine Tools, Tourism, Clay, Pharmaceuticals, and Medical Equipment Northern Africa; provides easy trading with Europe because it is bordering the Mediterranean Sea Major Industries: Petroleum, Petro Chemicals, Aluminum, Iron & Steel, food processing, Textiles, Handicrafts, and Cement

Spain Libya Imports: Machinery and equipment, fuels, chemicals, semi-finished goods, foodstuffs, consumer goods, measuring & medical control instruments Exports: machinery, motor vehicles, foodstuffs, pharmaceuticals, medicines, and other consumer goods Imports: Machinery, semi- finished goods, food, transport equipment, consumer products Exports: oil, refined petroleum products, natural gas, chemicals

Spain Libya GDP overall: $1.369 trillion GDP per Capita: $29,400 Poverty Level: 20% of population (2010) Unemployment: 20.1% GDP overall: $90.57 billion GDP per Capita: $14,000 Poverty Level: about 1/3 of population live at or below the national poverty line (2010) Unemployment: 30%

Spain Libya Debt: $2.166 trillion Debt: $6.386 billion Even though Spain has an overall better economy than Libya, it is in more debt.

Bibliography Works Cited : CIA. "Libya." Libya. CIA World Factbook. Web. 15 Sept CIA. "Spain." Spain. CIA World Factbook. Web. 15 Sept < world-factbook/geos/sp.html